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Hanoi (VNA) - The Mekong Initiative for Startup Tourism (MIST) has been launched in HCM City to boost investment and innovation in the tourism sector in Cambodia, Laos, Myanmar and Vietnam.
The MIST founders are the Mekong Tourism Coordinating Office (MTCO) and the Mekong Business Initiative (MBI).
MTCO will receive funding from the governments of Cambodia, China, Laos and Myanmar, as well as Thailand and Vietnam, while MBI will receive funds from the Asian Development Bank and the Australian government.
In Vietnam, MIST was organised with the support of the Da Nang Business Incubator (DNES). Partners of the initiative are the Seoul Global Startup Centre and the Swiss government-funded SECO Entrepreneurship Programme.
âInnovation and technologies are transforming the worldâs tourism sector, but the Mekong region has lagged behind,â Dominic Mellor, head of the MBI at the Asian Development Bank, said at the launch ceremony on Friday.
âWe are eager to see the regionâs startups … [Read more...] about Initiative aims to boost tourism in Mekong area

Why it's important for the country to belong to the 21-member community, which makes up half of the global economy
The 21 members of the Asia-Pacific Economic Community (APEC) accounted for 54 percent of the world’s total GDP, 41 percent of the world's population and 44 percent of global trade by the end of 2016. Vietnam’s trade in goods with APEC countries totaled $146 billion in 2016, accounting for over 40 percent of the country's total trade. Notably, Vietnam recorded trade surpluses with 11 of its 20 fellow members. The country ran its highest deficit with China. This year Vietnam will host the APEC 2017 meetings, giving domestic companies more opportunities to connect more with APEC partners, said Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry. Trade may become tougher now the Trans-Pacific Partnership (TPP) trade pact has been ditched by U.S. President Donald Trump, but all members of that deal are also part of APEC. The TPP may have … [Read more...] about [Infographic] Vietnam reaping benefits from APEC membership

Projects by companies from other APEC countries not only have big scales but also make sizeable contributions to Vietnam’s socioeconomic development. FDI from these countries is still continuing to flow into Vietnam. The Bac Ninh People’s Committee will soon issue the investment certificate to expand Samsung Display in Yen Phong Industrial Park. With the addition of this project, South Korean FDI in Vietnam has reached $53 billion, a number unthinkable a few years ago. The great speed at which Samsung has increased its investments in Vietnam has attracted other South Korean companies to follow in suit. FDI from South Korea has made up a significant portion of FDI from APEC countries. According to numbers from the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, as of the end of 2016, apart from Peru, Papua New Guinea, and Chile which do not yet have any projects in Vietnam, the other 17 APEC members have already entered the country, … [Read more...] about Vietnam sees strong FDI flows from APEC partners Investing

The MIST Start-up Accelerator will receive entries from recently established companies employing either advanced travel technology or traditional tourism business plans. Meanwhile, the MIST Market Access Accelerator welcomes applications from established international tourism start-ups seeking assistance to enter the region. Both programmes will receive applications until March 19. Applicants must demonstrate how they will create jobs, generate a positive impact on the community and contribute to sustainable tourism growth in Cambodia, Laos, Myanmar, or Vietnam. Start-ups accepted into the MIST Star-tup Accelerator will attend mini boot camps to further develop their business plans. The top business plans for each country market will win MIST Innovation Grants, with the best overall receiving US$10,000 and the three runners-up receiving US$7,000. MIST Market Access Accelerator participants will join tours put on by relevant companies based in the Mekong Region, as well as receiving … [Read more...] about Nhandan Newspaper – Start-up programmes launched to facilitate tourism development in Mekong Region

Da Nang takes legal actions against boat capsize case Da Nang city's Investigation Police Office has decided to take proceedings against those involved in the boat capsize on the Han river in Da Nang on the night of June 4, which left three dead. Earlier, the Thao Van 2 boat, numbered DNa 0016, carrying 56 people (three crew members and 53 passengers, including four Malaysians) suddenly capsized in the river section between the Han Bridge and Thuan Phuoc Bridge just five minutes after leaving the pier. Fifty-three people were rescued and three died, the bodies of whom were found on the afternoon of June 5. They were Pham Tan Cuong, 46, from Binh Dinh, two siblings Trinh Kim Phuong, 7, and Trinh Tien Huy, 4, both from Bac Kan province. Prime Minister Nguyen Xuan Phuc arrived at the scene to lead the rescue efforts. The PM asked to mobilise forces and facilities to work at top speed to search for missing people and minimise the loss of life. He also visited victims at the Da Nang … [Read more...] about Social News 8/6

Gold prices fall, Vietnamese dong weakens Gold prices slumped in the local market on November 18 while the prices of the US dollar soared in the unofficial market. Compared to the previous day's rate, a tael of gold or 1.205 ounces of the brand SJC lost 140,000 VND (6.2 USD) in the selling side, trading at 33.28 million VND (1,480.9 USD). On the buying side, the price of each tael also declined 140,000 VND (6.2 USD), trading at 33.05 million VND (1,470.7 USD). The gap between selling prices and buying prices on November 18 was 230,000 VND (10.2 USD). The gap from early this week was about 100,000 VND (4.4 USD). On the same day, Bao Tin Minh Chau Gold and Jewellery Company and Doji Gold both listed their selling prices at 33.24 million VND (1,479.1 USD) while the buying prices were listed at 33.2 million VND (1,477.4 USD) and 33.18 million VND (1,476.5 USD), respectively. Meanwhile, reuters.com reported that gold prices globally hit their lowest in nearly six years as the dollar rose … [Read more...] about BUSINESS IN BRIEF 19/11

Vietnam's rice to benefit from Thai price hike
Thailand's rice export prices are likely to increase this Friday when the Thai government's program to buy local rice at higher prices officially starts, meaning global importers could switch to buying from Vietnam.
As of October 7, the new exporting price of Thai white rice will be hiked to between US$750 and $800 a ton.
With this new price, local exporters said Vietnam would be an attractive alternative market for international importers who used to buy rice from Thailand since Vietnamese rice was as high as the Thai counterpart in terms of quality.
"Some Thai rice exporters come to Vietnam to seek supply and also consider setting up factories here," Pham Van Bay, deputy chairman of Vietnam Food Association, informed.
Bay added that Indonesia had emerged as a major rice importing market since it had contracted to buy a total 1.75 tons of rice from Vietnam.
"Moreover, the Philippines will soon have to import rice to make up for … [Read more...] about BUSINESS IN BRIEF 13/10

Donors urge quality public investment
Donors called on Vietnam to restructure public investment to foster quality growth at a workshop in Hanoi on October 4.
While examining the Ministry of Planning and Investment (MPI)’s five-year socio-economic development draft, most donors supported the country’s projected annual growth rate of 6.5 percent in the next five years instead of 7 percent. They said the reasonable rate would enable Vietnam to improve social protection policies, increase basic services for the poor and the most vulnerable groups, and create more jobs.
Eamonn Murphy, the UN Resident Coordinator in Vietnam, said the country should pay attention to equity issues as economic growth alone cannot ensure human development.
Rie Vejs Kjeldgaard, ILO representative in Vietnam, applauded issue of labour being pushed to the forefront aimed at reducing the unemployment rate amongst workers in urban areas to below 4 percent, creating jobs for over 8 million in five … [Read more...] about BUSINESS IN BRIEF 12/10